What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – BXN, ILT, LRV, EXR, LTP, WTM & PSC
What’s Not – ING
What’s Hot
BXN – Bioxyne Limited today closed up 71% to finish at 1.2c on $470k stock traded. There was no news out today but on Wednesday they announced they successfully manufactured GMP THC Gummies fulfilling its first commercial run of edible cannabis products.
BXN’s subsidiary Breathe Life Sciences (BLS) received its first commercial purchase orders for pharmaceutical cannabis pastilles (gummies and other edible medicines) in July, leading to its initial commercial production runs.
The total purchase orders received total ~$2m which includes supply to one of Australia’s top 5 alternative medicine clinics, which has executed an agreement with BLS to manufacture and supply a forecasted minimum $28m of THC gummy products over the next 24- months.
ILT – Iltani Resources Limited today closed up 32% to finish at 22.5c on $210k stock traded. There was no news out today but last week they announced assay results from its Orient Silver-Indium Project located in QLD.
Drilling intersected the down dip extension of the Orient West silver-lead-zinc-indium vein system with assays returning up to 6m @ 189 g/t Ag Eq from 207.8m including 2m @ 420 g/t Ag Eq from 210.8m.
Two main conductors were also defined at Orient West through down hole and fixed loop electromagnetic surveys (DHEM and FLEM), representing the lower and upper parts of the sulphide-rich vein system.
LRV – Larvotto Resources Limited today closed up 27% to finish at 40c on $4.6m stock traded. There was no news out today but on Wednesday they announced the receipt of final drilling permits for its Hillgrove Project located in NSW.
The drilling program will target infill drilling to ~20m to increase confidence of the resource and focus on a large, untested geochemical anomaly to the south of the Clarks Gully deposit.
The Clarks Gully deposit is currently defined from surface to depth of 200m with current measured and indicated mineral resources of 266 kt @ 3.8% Sb & 2.0 g/t Au for 10.6 g/t Au Eq.
EXR – Elixir Energy Limited today closed up 24% to finish at 18c on $5.4m stock traded. The reason they were up today was because they announced an update for its Daydream-2 well located in its 100% owned Project Grandis in QLD’s Taroom Trough.
The Daydream-2 well has now flowed gas to surface from the upper most stimulated zone in the well – a package of coal seams between 3,786m & 3,678m deep making it the deepest coal to have flowed gas in Australia.
Achieving a flow from the coals is the key outcome that Elixir sought from this stage of the program, which has now moved onto its next phase.
LTP – LTR Pharma Limited today closed up another 16% to finish at $1.80 on $7.7m stock traded. There was no news out today but last week they announced the first patient had been prescribed SPONTAN under the TGA Authorised Prescriber Scheme (APS).
The APS allows registered medical practitioners to prescribe SPONTAN to a broader class of patients with erectile dysfunction, streamlining access for those who may benefit from this innovative treatment.
Dr Tom Silva, an expert in men’s health, Senior Lecturer in General Practice at the University of Queensland and Director of Kangaroo Point Medical Centre, has begun prescribing SPONTAN for select patients.
WTM – Waratah Minerals Limited today closed up 11% to finish at 41c on $1.3m stock traded. There was no news out today but roughly a fortnight ago they announced a placement to raise $5m @ 25c through Morgans Corporate, Foster Stockbroking & Bell Potter Securities.
The funds raised will enable Waratah to accelerate exploration at its Spur Project located in NSW which recently returned 89m @ 1.73g/t Au, 0.08% Cu from 115m including 57m @ 2.50g/t Au, 0.11% Cu from 115m.
The maiden RC drilling program at Spur was designed to test extensions of shallow epithermal gold mineralisation and investigate a potential link with an alkalic porphyry gold-copper system down plunge.
PSC – Prospect Resources Limited today closed up 10% to finish at 11c on $210k stock traded. There was no news out today but earlier this month they announced a placement to raise $8m @ 10c through the boys and girls at Canaccord Genuity & Foster Stockbroking.
PSC is also planning to undertake a share purchase plan to raise a further $2m under the same terms, the Directors are intending to participate.
The funds raised will be used to advance exploration and development activities at its recently acquired Mumbezhi Copper Project located in Zambia.
What’s Not
ING – Inghams Group Limited today closed down 20% to finish at $3.09 on $70m stock traded. The reason they were down today was because they released its full year results which highlighted a 7.2% increase in revenue to $3.3 billion.
The increase in revenue was driven by the growth in core poultry volume and higher core poultry net selling prices ($/kg) of 5.4% following price increases implemented in FY23 and FY24 in response to the significant cost increases borne by the business due to the current inflationary environment.
While the general rate of cost inflation moderated during the period, higher cost growth was observed across salary & wages, utilities, husbandry, ingredients, and repairs & maintenance.
Rats Rant – IMPORTANT INFORMATION
The idea of this report is to be informative and hopefully point out some stocks that you wouldn’t ordinarily have seen during the day, maybe even have a laugh too.This report IS NOT personal advice. Sanlam Private Wealth Pty Ltd DOES NOT PROVIDE personal advice, Sanlam Private Wealth provides General Financial Product Advice.All advice included in The Rat’s Rant is General Advice. Please refer to the General Advice Warning. The views expressed in this report are my views and may not necessarily reflect the same views as Sanlam Private Wealth.It is very important to refer to the ASX website for information on any companies / stock that are contained in this report and as always please consult your financial adviser before acting.
Important Notice
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